Emcor Drake & Scull profit rises 41%

Emcor Drake & Scull announced this week that its pre-tax profit rose 41% in the year ending 31 December 2001.

Norman Critchlow, chief executive of the firm, said its facilities services business had grown significantly and had secured a number of long-term contracts.

He said: "As we exit the year, our order book is at record levels and we look forward to 2002 bringing even greater profitability, efficiency and customer satisfaction."

He added that the firm had set up 22 working groups to carry out an internal review of its project management procedures. The aim is to identify best practice techniques and adopt them in the future.

Pre-tax profit increased to £5.6m from £4m in 2000. Turnover was up 11.6% to £330m from £296m last year.

It is the fourth consecutive year of growth for the south-west London firm. Its annual report said further growth was expected this year and next.

It emerged last week that Emcor Drake & Scull is the only bidder for Citex Asia, the Hong Kong arm of UK consultant Citex. Sources in the former colony say the contractor is hoping to finalise the sale by the end of this month.